Livforsakringsbolaget Skandia Omsesidigt Has $111,000 Position in Biogen Inc. (NASDAQ:BIIB)

Livforsakringsbolaget Skandia Omsesidigt increased its position in Biogen Inc. (NASDAQ:BIIB) by 157.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 430 shares of the biotechnology company’s stock after buying an additional 263 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Biogen were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Altshuler Shaham Ltd acquired a new stake in Biogen during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the 3rd quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new stake in Biogen during the 3rd quarter valued at approximately $28,000. KB Financial Partners LLC increased its position in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Biogen during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Down 0.9 %

Shares of NASDAQ:BIIB opened at $190.52 on Friday. The company has a market cap of $27.69 billion, a P/E ratio of 23.87, a PEG ratio of 1.83 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. Biogen Inc. has a 1 year low of $189.52 and a 1 year high of $319.76. The stock’s fifty day moving average price is $216.17 and its 200-day moving average price is $236.24.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the company earned $4.05 earnings per share. Sell-side analysts expect that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Needham & Company LLC decreased their target price on shares of Biogen from $305.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Canaccord Genuity Group cut their price target on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Oppenheimer cut their price target on Biogen from $295.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Bank Of America (Bofa) cut their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Finally, Piper Sandler cut their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $296.35.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.